TUI to Report Q1 2024 Results: Revenue and Adjusted EBIT Loss Forecasted
TUI, the German travel operator, is set to announce its financial results for the first quarter of fiscal 2024 on Tuesday. Analysts predict positive growth in revenue and a narrowed adjusted EBIT loss.
According to two analysts surveyed by FactSet, TUI is expected to report revenue of €4.14 billion ($4.46 billion) for the first quarter, compared to €3.8 billion the previous year. This indicates a potential increase in revenue for the travel operator.
UBS analyst Cristian Nedelcu anticipates that TUI will narrow its adjusted loss before interest and taxes from €153 million in the previous year to €50 million for this quarter. Similarly, Deutsche Bank analysts forecast a narrowed adjusted EBIT loss of around €76 million for TUI. Adjusted EBIT loss is regarded as a key performance indicator by the company, as it excludes exceptional and one-off items.
In terms of capacity, UBS expects TUI to confirm that its summer 2024 capacity is comparable to the levels seen in 2019. This indicates a positive outlook for the company, with UBS stating that around 30% of the summer schedules are already sold at this point in the year, aligning with historical data.
Deutsche Bank analysts are optimistic about TUI’s like-for-like top-line growth, with an expected increase of approximately 13%. They attribute this growth to a strong operating trend in airlines, particularly within the cruise lines sector.
TUI’s Q1 2024 results will provide valuable insights into the company’s financial performance, especially amidst the ongoing challenges faced by the travel industry. Investors and industry observers will closely monitor the revenue figures and adjusted EBIT loss to gauge TUI’s progress and potential for recovery.
Contact: Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
Analyst comment
Positive news. TUI is expected to report positive revenue growth and a narrowed adjusted EBIT loss for Q1 2024. Analysts anticipate comparable summer 2024 capacity to pre-pandemic levels. This suggests a positive outlook, with strong operating trends in airlines and cruise lines contributing to top-line growth. Investors and industry observers will closely monitor the results for insights into TUI’s progress and potential for recovery.
